Difference Between Real Estate Agent And Real Estate Broker
People often us the word real estate agent and broker interchangeably thinking the two to be same but in ground both have certain differences that many of us are not aware of. A real estate broker and an agent both possess the license but they are of different category. From technical point of view, a broker has to do study more in real estate aspect than an agent. He is more qualified. |
Other than passing an examination recognized by the state, a real estate broker has to finish an additional coursework on real estate. Since a broker has more schooling than an agent, naturally he bears greater responsibilities as compared to an agent.
There are several agents who work under a broker in most real estate agencies. An agent performs nearly the same function as a broker, but when it comes to the final transaction, the broker has many other formalities to complete. A transaction cannot complete without an intervention of a broker. He is responsible for preparing many of the documents related to real estate. A broker gets an added commission with respect to his added responsibility.
If ever you have worked with a real estate agent or a broker, you would notice a very little difference. Generally agents are licensed and complete tasks that are integral part of a real estate transaction. Most of the buyer or sellers do not even come to know the difference. For an instance, if you are interested in buying home, an agent would help you in taking you to witness a variety of houses and can even assist you in getting the deal of your choice. Similarly, if you are planning to sell a house, you would approach an agent to help you find prospective buyers.
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